Planet Fitness raises membership fee for first time since 1998
What do fitness trackers really do for your health?
04:23
National gym chain Planet Fitness is hiking the cost of its basic membership for the first time in 26 years.
A no-frills membership for new customers will cost $15 per month, up from the $10 it had been priced at since 1998. The price hike will go into effect this summer. Current members, who joined at $10 per month, will continue to pay that amount until the membership expires, the fitness company said in its first quarter earnings call Thursday.
The company is only raising the price of its lowest tier or “classic” membership that lets members use a single gym location.
Equinox this week launched an ultra premium program for fitness-obsessed members costing no less than $40,000 a year.
Megan Cerullo
Source: cbsnews.com